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Stocks to Watch: RIL, Tata Steel, Hindalco, LIC Housing, Muthoot, JK Paper, Tejas Networks and more

4 Min(s) Read

By CNBC-TV18 Feb 7, 2023 6:11:04 AM IST (Published)


From LIC Housing, to Tata Steel and JK Paper, here are the stocks to watch out for in today's trading session.

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Reliance Industries | Unveiled India's first hydrogen combustion engine technology for heavy-duty trucks at the India Energy Week in Bengaluru. Along with Ashok Leyland, the company is engaged with other technical partners in developing the same since last year. The company will extensively test and validate this technology for heavy duty trucks before its first commercial deployment at scale, initially across its captive fleet. It is also pursuing the opportunity to create an end-to-end hydrogen ecosystem for mobility.

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Tata Steel | Reports net loss of Rs 2,502 crore during the December quarter on account of higher expenses. Loss mainly due to non-cash deferred tax of Rs 2,150 crore relating to British Steel Pension Scheme. Operating profit of Rs 4,048 crore well below CNBC-TV18 poll of Rs 4,995 crore. Margin compression in Europe offset the increase in India margin sequentially. Adjusted EBITDA per tonne in India and loss in Europe missed estimates. Net debt remains stable sequentially.

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Hindalco | Novelis reports weaker-than-expected numbers with sales declining 3 percent to $4.2 billion from $4.3 billion last year. Total shipments impacted by lower shipments in beverage packaging, weak macros and were partly offset by higher automotive sales. Operating profit declined 33 percent, hit by lower volumes, high inflation and tight scrap spreads. The management said things bottoming out in December quarter but did not give fixed guidance, also said confident of reaching EBITDA per tonne of $500 - $525 per tonne by next year.

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LIC Housing Finance | Disbursements during the December quarter decline both sequentially and year-on-year. Assets Under Management, however, increased 10 percent from last year. Project AUM down 23 percent year-on-year. Net Interest Income up 11 percent. Provisions double year-on-year as well as sequentially. Net Profit declines 38 percent from last year but up 58 percent quarter-on-quarter. Net profit was also a miss on estimates.

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Muthoot Finance | AUM growth of 4.8 percent year-on-year due to higher gold prices. Gold customer base declines 3.5 percent year-on-year. Loan per branch remains flat as does Gold tonnage. Lower cost of funds aid improvement in Net Interest Margin to 11.86 percent from 11.04 percent. Gross NPA up to 2.58 percent from 1.67 percent in September. Net Income down 9.6 percent, while Net Profit down 12.4 percent year-on-year. Housing Finance subsidiary continues to lose customers and also sees decline in AUM. Average ticket size in the subsidiary drops for the fourth straight quarter.

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UltraTech Cement | Commissioned 1.5 MTPA brownfield cement grinding unit in Odisha, taking the company's total cement capacity in the state to 4.1 MTPA. This is part of the company's ongoing capacity expansion. With this, UltraTech's total manufacturing capacity in India is now at 122.85 MTPA.

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Vedanta | Anil Agarwal-led company on Monday named industry veteran David Reed to head its semiconductor unit where it is looking to invest $20 billion to manufacture chips essential for mobile phones to laptops and TV sets. Agarwal said the group is looking to start manufacturing semiconductors at Dholera in Gujarat in 2-3 years.

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Dhampur Sugar | Completed expansion of its distillery capacity by 130 kiloliters per day (KLPD) on "C" heavy molasis at its Dhampur unit in Uttar Pradesh. The new capacity was commissioned on February 05, taking the total capacity of the company to 350 KLPD.

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JK Paper | Revenue up 50.2 percent for the December quarter to Rs 1,643.1 crore from Rs 1,094 crore last year. Net profit of Rs 329.3 crore is more than double from last year's figure. Operating profit or EBITDA up 76 percent to Rs 565.5 crore while EBITDA margin expanded 500 basis points to 34.4 percent.

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Tejas Networks | Revenue more than doubles from last year while net loss narrows. Reports operating profit compared to a loss last year. Revenue increased 25 percent sequentially. Inventory increased by Rs 95 crore this quarter as they could not ship completed / balanced systems due to a shortage of critical components. Secured some long-lead inventory in anticipation of expected orders requiring faster delivery.

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General Insurance Companies | Industry standard premium up 19 percent year-on-year in Janauary. Premium for Standalone Health Insurance up 28 percent from last year. ICICI Lombard January premium up 16 percent, while that for New India Assurance up 42 percent year-on-year. Star Health January Premium also up 16 percent year-on-year.

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